MasTec, Inc. (MTZ) Position Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 3.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,200 shares of the construction company’s stock after selling 2,300 shares during the period. Hennessy Advisors Inc.’s holdings in MasTec were worth $3,179,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MTZ. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of MasTec in the first quarter worth $204,000. New York State Common Retirement Fund raised its position in shares of MasTec by 57.9% in the first quarter. New York State Common Retirement Fund now owns 213,215 shares of the construction company’s stock worth $10,032,000 after buying an additional 78,210 shares in the last quarter. Stifel Financial Corp raised its position in shares of MasTec by 17.9% in the first quarter. Stifel Financial Corp now owns 40,810 shares of the construction company’s stock worth $1,922,000 after buying an additional 6,191 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of MasTec by 3.4% in the first quarter. Baird Financial Group Inc. now owns 40,680 shares of the construction company’s stock worth $1,914,000 after buying an additional 1,330 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of MasTec by 19.5% in the first quarter. Commonwealth Equity Services LLC now owns 12,366 shares of the construction company’s stock worth $581,000 after buying an additional 2,022 shares in the last quarter. Institutional investors own 82.33% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Robert W. Baird reiterated a “hold” rating and issued a $52.00 price objective on shares of MasTec in a research report on Friday, August 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price objective on shares of MasTec in a research report on Friday, August 3rd. Zacks Investment Research downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine upgraded MasTec from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Citigroup reissued a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.91.

MTZ opened at $41.41 on Friday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 15.17, a PEG ratio of 1.58 and a beta of 1.56. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 1.07. MasTec, Inc. has a 52 week low of $39.83 and a 52 week high of $55.53.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 2nd. The construction company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.01. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.79 billion. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The firm’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.53 earnings per share for the current fiscal year.

In related news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the transaction, the executive vice president now owns 101,755 shares of the company’s stock, valued at $4,884,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.10% of the stock is owned by corporate insiders.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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